Present value is $5543.07.
Given:
The future value is, FV = $6000.
The number of years is, t = 2 years.
Rate of interest is, r = 4%=0.04.
Componding term is semiannuallym n = 2.
The objective is to find the present value needed.
The formula to find the present value is,
Now, substitute the given values in the above equation.
Hence, the present value to be determined is, $5543.07.